Why I Created This Website
Do you want to learn how to find domain names and flip them for profit?
Well, let me tell you a bit about me. This exact problem is something that I wanted to learn how to do, but struggled with initially.
When I first got into this industry in 2011 I had a different successful online business and a whole lot of money to spend. I ended up buying over 500 domain names, almost all of which were completely useless. During that stretch I sold just one domain name for $50.
However, over the years I worked to educate myself about the industry. I tried many different strategies and I was able to come up with a system that works well for me and my goals. Additionally, I believe that there are systems out there that can be beneficial for anyone who wants to break into domain industry and make additional money.
Now, it wouldn’t be fair at all if I didn’t point out that it isn’t always easy to implement these strategies or systems. I have been able to make money, but it has never been enough to quit my full time job. It has always been more like a part time, or side income I see as a bonus.
There are many things that individuals need to learn over time, which is what I did, and what I will be trying to help bring to you here to cut down on your learning curve. I know that it might seem crazy, but I want this industry to thrive because I honestly love it. I think about domain names every single day and have a real passion for them.
With this website I plan on doing something I never thought that I would do. I plan on starting over with just one domain name and $420 to spend. That one domain name I bought somewhat recently for $80, so you can view this as being a $500 starting point.
The Idea for This Domain Name Challenge
I got this idea after reading a somewhat heated thread about a popular old school domainer. This domainer made most of his millions from getting to the industry in the early days and benefiting from the .com boom. The debate within the comments section was that this guy wouldn’t be successful or able to do it again if he were to have to start all over again today with $10,000.
Personally, I think $10,000 is a lot of money, and that the guy could probably be moderately successful with that much capital to start with. However, I also don’t think he’d be anywhere near as successful as he was, and that if he were to take on a real challenge like starting with $500 he wouldn’t do well at all.
This is the challenge that I plan on bringing to you here one post at a time.
I want to walk you through me starting with this $500 budget and trying to pick out names that I can flip for profit. I’ll keep records here of how things are going and I’ll also go into the details about why I picked specific names to buy, prices to list them for, and what my profits were when I made a sale.
One tricky part may be disclosing how much I pay for a domain name because if the person is a reader here or finds out what I have paid it could effect our negotiations or sales process. I will see what I can do to work around this, maybe I can keep a chart or something that doesn’t outright display the numbers, but is regularly updated and lets people know where I stand.
I will have a bit of an advantage that I have already gone through the stages of buying junk like many first time domainers do and moving into other strategies. Additionally, if done right this website and my YouTube channel could become a way to market my domains.
I hope that my blogging journey here, my YouTube channel, and that my course can help you to cut down on your learning curve and learn more about the domain industry. Let’s get started with the domain name challenge!